European Banking Union

"Bulgaria is on the final stretch on the road to the Eurozone". This was stated by Iliya Lingorski from the BNB Board of Directors during a forum dedicated to the advantages for business and the economy of the adoption of the euro.

Bulgaria's Finance Minister Vladislav Goranov has confirmed that Bulgaria is continuing its plan to enter the ERM-2 exchange rate mechanism. One of the commercial banks in the country still need to comply with the European Central Bank's recommendations for additional capital buffers. In doing so, Bulgaria will meet the requirements for applying to join the European Banking Union and ERM-2.

Bulgaria's earliest possibility to adopt the euro would be on January 1, 2022, Finance Minister Vladislav Goranov, said on 28th of January. He attended a discussion organised by the Bulgarian representation of the European Commission. European Commission Vice-President Valdis Dombrovskis was a special guest.

Finance ministers of Eurozone countries and the European Central Bank, ECB, on Thursday welcomed Bulgaria's intention to "put in place the necessary elements for a successful entry into ERM 2" - the so-called "waiting room" for the Eurozone.

The President of Bulgaria from 2012 to 2017 - Rosen Plevneliev announced on Horizont radio that there is only one scenario for the European Union - a strong alliance with strong national states.

The European Union can resist attempts to be split and weakened only through concerted efforts and new incentives to strengthen integration among its member states, Bulgaria's President Rosen Plevneliev said on Thursday.

Professor Tatyana Hubenova from the Bulgarian Academy of Sciences (BAN) said that the country is considerably lagging behind Romania on the road of accession to the Eurozone.

According to her, the accession to the Eurozone will guarantee better banking supervision and financial stability, daily Sega reports.